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France 24

Business

China's economy takes a hit from Covid-19 lockdowns

China Covid-19 Economy Barcelona India Shanghai

BUSINESS DAILY © FRANCE 24

New data shows China's economy cooled sharply in April, as many cities including Shanghai suffered Covid-19 lockdowns. Industrial output dropped nearly 3 percent compared to a year before, while retail sales slumped 11 percent. Meanwhile, global wheat prices jump after India announces a ban on exporting the grain due to damage from a heatwave. Finally, we see how tourists are returning to Barcelona. The development is good news for local businesses but could revive tensions over mass tourism.

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